Multifamily Income
For Sale
$720,000
23 Brow Street, Fall River, MA 02721
Two-story multifamily property with four 2-bedroom units and two studio units, plus on-street parking.
Property Size2,785 SF
Price / SF$258.53
Days on Market87
Property Features for 23 Brow Street
General Information
Standard status
Active
Size
2,785 SF
Property subtype
Multi-family
Building Details
Year Built
1900
Listing Agency:
Horvath & Tremblay
Listed By:
Spencer Smith
(508) 823-9400
Source:
Ballowhutchinsonrealestate
Added: May 18
Changed: Aug 11
Last Checked: Aug 12 at 3:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Horvath & Tremblay
Investment Insights
Based on property information with market context.
This two-story multifamily building offers a total of six residential units, consisting of four 2-bedroom/1-bathroom units and two studio units. The property includes approximately 2,785 square feet of gross living area within 4,368 square feet of gross area, set on a 0.07-acre parcel. On-street parking is available.
The property is offered for sale and is located at 23 Brow Street in Fall River, Massachusetts. Its unit mix provides a straightforward structure for an owner seeking consistent residential income within a compact building footprint.
The property is offered for sale and is located at 23 Brow Street in Fall River, Massachusetts. Its unit mix provides a straightforward structure for an owner seeking consistent residential income within a compact building footprint.
Key Highlights
- Two‑story multifamily at 23 Brow Street in Fall River, MA
- 4 units total: four 2‑bedroom/1‑bath apartments plus two studio units
- 2,785 sq ft gross living area within 4,368 sq ft gross area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,254
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$925,080
$925.1K
Cap Rate 7%
$660,771
$660.8K
Cap Rate 9%
$513,933
$513.9K
Market Conditions
NOI Build-Up for 2,785 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$90.2K $32.40/SF
− Vacancy
−$6.1K −$2.20/SF
EGI
$84.1K $30.20/SF
− OpEx
−$37.8K −$13.59/SF
NOI
$46.3K $16.61/SF
Area
Bristol County, MA
Vacancy
6.80%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$925,080
Cap Rate 7%
$660,771
Cap Rate 9%
$513,933
Alternative Uses
Best Use
Apartment 5plus
$660.8K
$578.2K – $770.9K
NOI $46,254 @ 7.0% cap · market cap 6.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.48M – $1.98M
NOI $118,721 @ 7.0% cap · market cap 16.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,986
Businesses Nearby
Explore this area
Business Placement
Demographics for 02721, MA
28,075
Population
12,358
Households
2.3
Avg Household Size
38
Median Age
15%
College-Educated
73%
High-School Grad
4.0 sq mi
ZIP Area
7,019
Density / Sq Mi
$50,666
Median Household Income
$40,315
Median Earnings
$1,010
Median Rent
$362,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-story multifamily property with four 2-bedroom units and two studio units, plus on-street parking.
Where is this apartment building located?
The property is located at 23 Brow Street Fall River, MA.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: Two‑story multifamily at 23 Brow Street in Fall River, MA; 4 units total: four 2‑bedroom/1‑bath apartments plus two studio units; 2,785 sq ft gross living area within 4,368 sq ft gross area
